Theodore A. Sarandos Sells 1,278 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Netflix Stock Up 2.1 %

Shares of NFLX traded up $16.30 during midday trading on Wednesday, hitting $780.21. The company had a trading volume of 3,687,755 shares, compared to its average volume of 3,890,906. The company’s 50 day moving average price is $717.59 and its 200 day moving average price is $667.98. The stock has a market cap of $333.51 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a 52 week low of $431.00 and a 52 week high of $781.49. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Legal & General Group Plc grew its position in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after buying an additional 104,332 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Netflix by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after buying an additional 83,762 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. Piper Sandler restated an “overweight” rating and issued a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Wedbush boosted their price target on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Barclays reiterated an “underweight” rating and set a $550.00 target price on shares of Netflix in a research note on Friday, October 18th. Finally, Evercore ISI boosted their target price on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $748.15.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.